IKRC, TTB Loans to Needy

IKRC, TTB Loans to NeedyIKRC, TTB Loans to Needy

The Imam Khomeini Relief Committee (IKRC) and Tose’e Ta’avon Bank (Cooperative Development Bank) signed a memorandum of understanding to grant $50 million (1.6 trillion rials) as interest-free loans to households under IKRC coverage.

“We are making efforts to revitalize the potential and capacities of the targeted groups to help them achieve financial independence through technical and vocational training as well as interest-free loans,” IRNA quoted Mohammad Ali Sahmani Asl, director of TTB, as saying. Loans up to $4,600 (150 million rials) to start small businesses and $1533 (50 million rials) for home schemes will be granted.